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to tackle the impending fiscal cliff but the president and the speaker of the house john boehner each drawing lines that they say they will not cross. the major hurdles, that threat to send the economy into a tailspin, that's coming up next. >>> plus a nascar race turning into a full-scale brawl. look at this. mayhem breaking out of the everybody going at it. we'll tell you what set it off. after this. ve lately. but because of business people like you, things are beginning to get rolling. and regions is here to help. making it easier with the expertise and service to keep those wheels turning. from business loans to cash management, we want to be your partner moving forward. so switch to regions. and let's get going. together. jenna: well come back, everyone. now let's return to the economy. the president and house speaker john boehner are suggesting they are willing to compromise to prevent our economy from going over that so-called fiscal cliff but both sides are digging in their heels whether or not to race tax rates for the wealthy. rich edson of the fox business network watching
directly at odds with house speaker john boehner. >> could you accept a deal that does not include tax rate increases for the wealthy? we've seen talk about a possible compromise that could leave rates the same but cap deductions for high-income earners. is that something that's acceptable? >> no. >> not at all no, way? >> no. the preponderance made it very clear in his campaign that there are not enough -- what you just described is a formula and a blueprint for hampering our future. you cannot go forward -- you have to cut some investments. if you cut too many you are hampering growth, you're hampering education, investments for the future. >> and even thousands of miles away it appears president obama is still focused on those negotiations. while touring a royal monastery with secretary of state clinton in thailand the president was overheard mentioning the budget talks to a monk. the president later clarified his comments -- >> he's not any monk. >> no. >> he has some big i vestments in the stock market. >> he later clarified his comments at a news conference. >> yes, we were working on
of those things need to be in play. when john boehner talks about raising revenue he's willing to do that if it only comes in the form of tax reform, not raising tax rates, but actually lore erring tax rates, closing loopholes, broadening the base and you will get more money coming into the treasury. the other part of the equation that is so important which has not been part of the public conversation is cutting spending, not just slowing the rate of growth but actually cutting spending to try to get this deficit under control. i know the republicans don't control the narrative on this but i want to hear more from them on that side of the equation. jon: julie our nodding your head you must agree. >> i think both sides need to come to the table. enough already with these sort of, you know, showmanship, game man ship, these are people's lives that are at stake in this economy. monica is right in that the president does control the upper hand at this point. if nothing is done all the bush tax rates will expire. you have exit polling coming out of the recent election saying two-thirds of
boehner is even interested in? >> i think it is probably something that he might consider. this is how negotiations work. congressional "fight club." they stake out their positions and sort of move closer together as they come together and actually meet and discuss this. there are couple options what they can do on the table. president signaled perhaps it doesn't have to be all about getting rates to clinton era levels. perhaps getting revenue from other places. i think that would be healthier, broader tax reform kind of deal made. i'm not sure whether they're all savvy enough to make that deal. i mean. martha: seems to me that is the major issue here. that is what john boehner was hinting at. he is suggesting that if you remove some of the loopholes that is a tax increase on the wealthy in this country. i feel like that is a message that has gotten across in perhaps a clear enough way. if you do same thing for u.s. corporations and roof move tax loopholes and don't end up in a situation where ge doesn't pay anything and small business pays through the nose. why isn't that kind of refo
john boehner and house minority leader nancy pelosi will be there and others at any moment to talk about the fiscal cliff. the president spoke to labor leaders and business executives earlier in the week. it's a busy day in washington, d.c. we'll have more on all of this we'll have more on all of this coming up. diarrhea, gas, bloating? yeah. one phillips' colon health probiotic cap each day helps defend against these digestive issues with three strains of good bacteria. approved! [ phillips' lady ] live the regular life. phillips'. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guid
to avoid tax hikes and spending cuts. john boehner is asking to outline a plan and get fellow republicans on board. ryan will likely be under the most pressure to back away from his conservative politics. his run for vp no doubt brought him some new-found respect and political clout amongst his colleagues. they say they will confident they will be able to reach some sort of a deal by the engineer of the deal, they need to be at an impasse when it comes to taxes. they said any deal to reduce the deficit should come through pro-gross reforms. that means things like lowers rates, and closing loopholes. >> just to close loopholes is far too little money, and they have said they weren't it to be revenue neutral. the president has been very clear, that the higher-income people have to pay their fair share. >> that means no deal from the democrats if republicans will not agree to raise taxes on the wealthy, but pelosi says she is optimistic. more john coming up after the break. stay with us. ♪ created ad message for little caesars who proudly salutes unites
other point that i want to make and that is that my understanding is tomorrow is representative boehner's birthday. for those who want to wish him a happy birthday, we're not going to embarrass him with a cake because we didn't know how many candles were needed -- >> yeah, right. >> but we do want to wish him a happy birthday. >> thank you. >> thank you, everybody. appreciate it. >> house and senate leaders spoke briefly to reporters. >> good morning, everyone. we had a very constructive meeting with the president to talk about america's fiscal problem. i outlined a framework that deals with reforming our tax code and reforming our spending. i believe that the framework that i have outlined in our meeting today is consistent with the president's call for a fair and balanced approach. to show our seriousness, we have put revenue on the table as long it's accompanied by significant spending cuts. while we're going to continue to have revenue on the table, it's going to be incumbent for my colleagues to show the american people that we're serious about cutting spending and solving our fisc
. >>> if the fiscal cliff negotiations seem familiar, we've seen the movie before. president obama and speaker boehner were unable to reach a debt deal in 2001. one of the by-products of the inaction was a downgrade of the country's credit rating. could this happen again? and what would it mean for the nation's financial standing across the globe? joining me is jared bernstein, senior fellow at the center for budget policies and priorities. good to see you again, when it comes to the credit rating, we've seen it happen before. all three credit rating agencies are saying you've got to put a deal together in washington, if you guys in washington don't get it done, we're going to downgrade your credit. >> we've seen this movie before. it's not a good movie. i will remind viewers that the last time standard and poors did take us down a notch, it actually didn't hurt our ability to finance our debt at all. so that was kind of blown off by the markets, but this time could be different. there's one interesting wrinkle here. i do believe that if the political discourse, which is actually sounding a little bet
hubbard, what boehner said, and i take from this collection some optimism in 20 # 13 the way it might play out is whether we go over or don't go over the fiscal cliff, you know, there's a lot to happen in the next three months, that we get to some space where if they did a trillion dollars of cuts and reforms to entitlements, a frl on discretionary, a trillion in new revenue, a trillion in saved interest only because the budget doesn't understand net present value, but that's okay, but if you did that, there's a grand bargain in a way that would be, i think, a pretty good accomplishment for both parties. i think that the principle thing in that is is can you gent a significant chunk of republicans in the house to support anything that has a trillion dollars of revenue in it. >> you think they reach a bargain, move quickly over the cliff. what happens to get to the bargain? >> yeah, sorry, i thought that's what you were asking. >> yeah. >> i'm pessimistic they will be able to sort out that bargain in the next two months so i'm afraid there's -- i think a serious danger, they go over the fis
.6 trillion of new revenue. boehner had agreed to $800 billion. it's not hard to find $1.2 trillion as a kind of middle ground to that. then you want to have $4 trillion of total deficit reduction, so that leaves $2.8 trillion of spending reductions that have to happen. here's what people miss. we can avoid going over the cliff with the stroke of a pen. they can just extend all this stuff and kick the can down the road. the real question is are we going to have a big deal? are we going to agree on the major spending restraints that we need as well as the tax stuff in order to actually get the deficit under control? and i think the betting on that is less than 50%. i think we have a great shot at it. but it's going to be really, really hard. >> is that the view from wall street, too? they're not totally confident that this is going to happen? >> what you see in the stock market at the moment is that wall street is not totally confident. that's for sure. >> all right. steve, thanks so much. >> pleasure. >>> coming up, independent senator-elect of maine, angus king joins the conversation. he's a
issue that's facing us. john boehner and mitch mcconnel said we want to compromise. don't want the american people to deal with what could be ahead. what is going on? we all think their backdoor meetings that get done. is that not the case? >> they are having those kind of meetings. they are going to have a meeting later on today with the members of congress with leadership. look, it's very clear we need to look something serious. send the message to the markets and the american people. this election pretty much laid out what the american people want. 80% of the american people want to compromise. both parties to work together. i don't know what it will take for these guys to wake up and realize that. we have to stop this negotiating i'm not going to do this. the only thing we know for sure is rates are going up for the wealthy. elections matter. he did win. >> i think what you have is a lot of posturing going on and it's posturing that takes you toward the negotiations that will take place. i would disagree with my friend marty that the rates have to go up. i think there's a
boehner said he is more interested in half that amount. >>shepard: all of the tax cuts are going to expire because the republicans and democrats signed off on it. what they can do now is re-instate the tax cuts. >>gerri: extend them. >>shepard: the president is vetoing them for the richest. if they don't do anything they expire if everyone. the fiscal cliff has had problems and impact on how corporations are doing business. >>gerri: these are new numbers, the "wall street journal" put these out saying that overall spending by companies is down 1.3 percent and capital spending down, as well. companies are retrenching, spending less. they decided they want to spend husband h -- spend less because this is uncertainty. >>gerri: we need the companies to hire people and expand and open more plants around the world and in the united states. >>shepard: that would be nice. >> we have the executive business editor and assistant managing editor of the the "wall street journal," parent company of this network. where are we? >> we had two rots looking into filings by companies and to pick up on what ge
and the ongoing relationship with boehner and mcconnell because he's going to have to be a different kind of leader with them. he talked about it in the press conference a bit the other day. he needs to reach out to them the way he's reached out to people on staten island and dealt with the two governors, christie and cuomo, who are two pretty demanding guys as well. and based on their public and private comments have been very happy with the president's leadership and his government. >> i just wonder if it's fair to make a parallel when you look at the president's response to sandy which has had and continues to have just devastating effects on the economy for businesses and the reaction to the bp oil spill which seemed slow in coming because that was devastating as well to a different part of the country. >> he certainly was. he was very slow to respond to people in the gulf coast. >> in terms of appearances. >> i think things have changed, though, over the past couple years. and i suspect that, you know, even the president's closest allies will say that it was a very hard adjustment go
are at a dinner this evening. hosted by the speaker of the house, john boehner. shep? >> shepard: mike emanuel live on capitol hill. just in to fox news from the o really file? the chief operating officer of the long island power authority or lipa is stepping down in the wake of super storm sandy. this comes on the same day an attorney filed a lawsuit against lipa claiming negligence in the aftermath. and the attorney is seeking class action status potentially including hundreds of thousands of long island customers who, in some cases have had no power for two weeks. the feds say only about 25,000 customers in the storm zone are still in the dark only. certainly a major improvement since just yesterday when the number was three times that. but today as the new york city mayor michael bloomberg pointed out that figure does not include tens of thousands of homes and businesses that are destroyed or too badly damaged for crews even to restore electricity. >> the majority of new yorker who's remain without power do so not because the utilities can't provide power on the street but because necessar
'm not going to buddy breathe with john boehner. you never know when he goes from lee marvin to tammy and starts sobbing openly. i'm not going to be the last guy stuck with this. i get it the country has changed. i'm all reporting for duty, sir. >> bill: so now you are going to tell me that you, dennis miller, are now giving up and are going to get in lock step with the secular progressives? >> have you ever seen the movie invasion of the body snatchers. go dead eye so they don't get hassled? that's me, man. [ laughter ] i got my -- i got my own thoughts when i'm out on the sidewalk dodging the sea pods. you are going to see this look. all right? that's exactly what you are going to see. billy, you think is a glitch. i think is a sea change. i don't think this comes back during my lifetime. i do think it comes back in the same way an alcoholic who has a brush with mortality will eventually come back. somebody will have a stroke or somebody will almost croak from alcohol will poisoning fiscally but maybe then we pull it back. this thing is not edging back. the inmates are now sublettin
the microphone with pelosi and with reid and boehner at the side saying that revenue is on the table, but when the talks ramp back up after thanksgiving, is this an issue to be real negotiation or dig-in time? >> i hope it is time for a negotiation. look, if there is one thing that we learned from the president's campaign, he promised to raise taxes on the wealthy. and here is a news flash to the republicans out there, elections have consequences, and that is what he wants to do, and i'm sure he is going to accomplish some of that, but on either side when you dig in before the negotiations start, not only does it look bad, it makes the markets go up and down, and it creates instability, and insecurity among the people out here in the country feeling the pain and the brunt of some of the economic policies and the fact of the matter is that both sides need to come into it with some level of give and take, and that is how you govern and get it done, and if the president is going to ak kccomplish the polis that he did in first term that he promised in the second, he is going to have to get some of
the bottleneck now. um, you probably saw the article this morning from hubbard, you saw what boehner said. i take from this collection some optimism that in 2013 the way it might play out is whether we go over, don't go over the fiscal cliff, you know, there's a lot to happen in the next three months that we get to some space where if they did a trillion dollars of cuts and reforms of entitlements, a trillion dollars on discretionary, a trillion of new revenue and a trillion of saved interest which is only because the budget doesn't understand the present value, but, you know, that's okay, if you did that, you basically could sort out a grand bargain in a way that would be, i think, a pretty good accomplishment for both parties. but i think the principal thing in that is can you get a significant chunk of republicans in the house to support anything that's got a trillion dollars of revenue in it. >> so you think they reach a bargain. you kind of moved quickly over the cliff, what happens to get to that bargain? >> yeah, sorry, i thought that's what you were asking is. i'm somewhat pessimistic the
. john boehner still in the house for the time being at the treasury. the president is back in the white house and harry reid is in the senate with a few more seats. why should i believe this would end any more positively than the summer of 2011? >> because again i'm not going to try to talk to you in optimism but let's look at what's changed. you have republican leadership acknowledging for the first time in this debate in public that it's agreed to increase in revenues as part of an agreement that helps restore fiscal balance. that's a very important change. you can debate on what motivated that change, and of course it's true that approach has been a popular very substantial support among the american people. you have a much greater recognition that the economy would benefit on a carefully designed balanced agreement on fiscal reform and putting it off indefinitely is not good for the country. that's important, too. and i also think again if you listen carefully to what people are saying and what many politicians are saying with many elected representatives are saying there's a lot of
that we've seen since the election, whether it's from the president or the house speaker john boehner, but i can tell you in talking to sources privately on both sides of the aisle, they admit that it's all about positioning and posturing to make sure at the end of the day if we do go off the fiscal cliff that they're not blamed for it. they're the ones who looked reasonable, not unreasonable, and they're preparing for the other side to blame them for the opposite, if that makes sense. that's a lot of what you are saying in public. the reality is that neither side has a really clear machine date or clear vote and no one wants to look at the end of the day like they never gave compromise a chance. listen to republican bob corker, though, because there does seem to be a little bit of a crack on the republican side on whether or not it's okay to raise some taxes. >> i think there is a deal. the ying and yang is we know there has to be revenues, and i think -- look, i haven't met a wealthy republican or democrat in tennessee that's not willing to contribute more as long as they know we so
, speaker boehner had pushed at the urging of many of us and invited prime minister netanyahu and gave the best speech here in congress. it helps when a nation's enemy sees an ally siding with them. on the other hand, when a nation's enemy sees a strong ally, the united states, turning on an ally as this administration had with president mubarak and people wanting to see israel gone from the map, take power. it encourages israel's enemies. this administration also had relations with gaddafi. he had blood on his hands from prior years. not a good man. but he had opened up his country, aban dopped any nuclear weapons pursuits -- abandoned any nuclear weapons pursuits and became an ally. i have seen individual family members of gaddafi here in washington to meet with administration officials and lo and be hold, year and a half or so ago, this administration sides with the enemies and at the time, we knew al qaeda was contained within the revolt and we sided with the al qaeda-backed revolt to drive out gaddafi. that appears to have inspired the violence in tunisia. so we have seen israel's
boehner actually said it well. he said the mandate from the election of last week is for us to find a way to work together on solutions to the challenges we face as a nation. i can't agree more. elections have consequences and our ability to avert the fiscal cliff in which expiring tax cuts and across the board spending cuts are on the course to derail this economy requires us to respect that directive from voters. yet once again, lines are being drawn. you just heard it. over what types of revenue will be considered or what cuts are considered too steep. i hope was not the only one astounded by the comments of the c.e.o. of the american petroleum institute who recently said, quote, the oil and gas industry will not be singled out for punitive repeat, unquote. how fascinating. perhaps i could introduce him to the federal work force, our federal employees who are so far the only group to be singled out for punitive treatment to the tune of $75 billion of deficit reduction. they understand the principle of shared sacrifice and have patiently been waiting for everybody else to actually share
says he wants to see higher tax rates. john vitter says axel in not. >> -- john boehner says clearly not. >> it is a lot easier to say at this level of generality. it becomes harder to enacted. the number of times of with the head of the cbo, senator so and so would call me up and say i want to talk about tax reform and i would walk in and the head is one talking point which is brought in the base and lower the rate. what are you willing to scale back? mortgage interest, cannot touch that. charitable, cannot touch that. you go down the list. one of the reasons of these new ideas being attractive is a are obscuring what has to be cut back. >> there is still a hard choice there. >> we are not saying we are going to cut out your ability to deduct your mortgage but i will get to keep my ability to deduct my local tax. everything goes into a pot. everybody gets to keep their deductions but you cannot be too greedy about it. it does have to limit the amount they can benefit from it. >> that is the selling point. >> the notion here, can you do this and have the only effect of the wealthiest
week. host: "the baltimore sun" has a story, "boehner ways next moves." this is from "the wall street journal." "post office hint of gop path." host: "she fit a profile." so, more on leadership, which both sides will be voting for this week when they return to washington on who will be their leaders. so, we will continue to watch that story for u.s. well. part of the mix to avoid the fiscal cliff is these jobless benefits. that is the headline in the politics and policy section of "the washington post." "over 2 million americans could lose their jobless benefits before the end of the year." host: susan, michigan, what do you think? should we cut medicare and social security? caller: absolutely not. absolutely not. host: why not? caller: i am a woman who has finally reached the age of social security. all the years the work, this money was taken out of my paycheck. i was told from a very young age that when i reached a fine age of the period where you retire and you can get social security, that all the money that i paid in would be refunded to me. this money is not to be touched, not
john boehner, eric cantor who will stay on with those rules that have had since 2011 when republicans took control of the house. in terms of strategy and approach, we are dealing with the same players we were dealing with before the election. host: turning toward the senate, what is the news there? caller: a lot of the same there as well. the republicans and democrats met yesterday morning behind closed doors and basically reelected the same leaders should have said for some time now. harry reid on the democratic side. on the republican side of mitch mcconnell and john corn and who is coming off of two cycles on the republican campaign committee. he will be replacing john kyl who is retiring. another couple of people down the ladder were reelected. there was an opening for for the campaign committee slot. thank you for talking with us. our question this morning is your level of confidence in the white house national security team. let's hear from carrie from michigan. caller: good morning. can you hear me? i think this is another cover up for the republican party. look at what condole
republicans. listen who what house speaker john boehner said about that throwing cold water on it. >> at this point i think that the standing committees of the house whether they be the oversight committee or the intelligence committee are working diligently on these issues, and at this point i think that's appropriate. >> now, what john mccain and his colleagues are arguing is that there's too much stove piping going on. there are too many committees, and twoul today is a good example. there are hearings going on all over capitol hill and then probably will continue to be. they think it all should be streamlined into one committee, but, suzanne, using the term watergate, using the term coverup, saying what did he know, when did he know it, talking about the president, not exactly a way to get bipartisan support for something that, you know, democrats clearly don't want. it is absolutely -- you mentioned at the beginning, very, very tense, particularly between these two old rivals, john mccain and president obama. >> not the way to bite -- get the bipartisanship going. okay, dana.
it off track when there were in fact very close. i think boehner has been very clear. i think revenues are on the table. they are at the moment drawing a line on tax rates, but we will see where that goes. the last time, you are right, didn't work and we were not facing quite the same set of circumstances we are facing today so i'm cautiously optimistic although i will offer to say lastly that people sometimes say okay, it looks like simpson-bowles, everything in between zero and $4 trillion we could end up with all kinds of outcomes that may be less than i would like and maybe less than all of you would like but at least something. i'm hoping it is more over here but i don't know. >> and steve, so we are gathered here to talk about u.s. global competitiveness. how important is resolving these issues to the american position on the global economy? >> first of all i think it's important not just our position in the global comment about our position in the world. admiral mullen who was the previous chairman of the joint chiefs of staff said our greatest national security threat was our f
. the caucus urges you to join speaker boehner today in the rayburn room at 11:00 a.m. as he honors dr. james billington and his exemplary quarter century of leadership at the library of congress. the speaker pro tempore: for what purpose does the gentleman from new jersey rise? the gentleman is recognized for one minute. >> madam speaker, i rise to congratulate mr. wade martin of montgomery township, new jersey, for being awarded the 2012 land trust alliances prestigious national conservation service award for his significant contributions to the advancement of land conservation. mr. lance: using his position as financial advisor, mr. martin is educating his clients to the benefits of land preservation. his provided land trust and owners across new jersey for the benefit of land conservation. wade martin has taken his innovative land model nationwide to other financial advisors and their clients explore various options in preserving their land and their families' legacies, increasing the pace of land conservation. i ask all of my colleagues to join me in honoring wade martin as one of the na
Search Results 0 to 38 of about 39 (some duplicates have been removed)